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Overestimating Slot Machine Revenue

Massachusetts is still considering adding a slot machine casino, as they think that the additional revenue will help to balance their state budget. However, some initial reports of the amount of revenue the state would actually get from the slot machines seem that they may be higher than the actual revenue. Rep. Daniel Bosley, a Democrat from North Adams, says that the initial figures were overblown and that the state will not see the kind of income that they are touting.

He says that the initial reports that say that the slot machines will help with the $1 billion budget deficit that the state is facing is overblown, and that their comparison of the amounts going across state lines is not true. Bosley says that they are claiming that residents are spending a billion on Connecticut and Rhode Island slot machines, and that if they legalize the machines in Massachusetts that they will get the billion instead.

He says that the estimation made by the group is too high, and that even with Massachusetts having its own casino, the state would only see about $50 million instead of $1 billion. He says that the statistics that the University of Massachusetts Dartmouth's Center for Policy Analysis released are not enough to make the final decision based on.

Bosley, an anti-gambling supporter, said that he based his estimate on slot machines that pay out 90% of the time, and that his numbers are much closer to the truth. However, the center says that Bosley is using inflated costs to show lower slot machine revenue.

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